MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 1,032 Shares of GXO Logistics, Inc. (NYSE:GXO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,170 shares of the company’s stock after purchasing an additional 1,032 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.07% of GXO Logistics worth $5,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Morgan Stanley grew its stake in GXO Logistics by 58.9% during the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock worth $117,261,000 after buying an additional 1,017,980 shares during the last quarter. Mar Vista Investment Partners LLC acquired a new position in GXO Logistics in the 1st quarter worth about $71,087,000. Norges Bank acquired a new position in GXO Logistics in the 4th quarter worth about $41,706,000. Vanguard Group Inc. raised its holdings in GXO Logistics by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock worth $378,512,000 after purchasing an additional 870,382 shares during the period. Finally, Aristotle Capital Boston LLC acquired a new position in shares of GXO Logistics during the second quarter valued at approximately $21,441,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GXO has been the subject of several analyst reports. TD Cowen increased their price objective on GXO Logistics from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Stifel Nicolaus upped their price target on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Citigroup reduced their price objective on GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Susquehanna increased their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Finally, BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of “Moderate Buy” and an average price target of $69.33.

GXO Logistics Price Performance

Shares of NYSE GXO traded up $1.13 during mid-day trading on Friday, reaching $53.76. 1,833,165 shares of the company traded hands, compared to its average volume of 1,209,302. The stock has a fifty day simple moving average of $53.00 and a 200-day simple moving average of $55.53. The firm has a market cap of $6.41 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 2.21 and a beta of 1.63. GXO Logistics, Inc. has a fifty-two week low of $47.81 and a fifty-two week high of $67.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. GXO Logistics’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares in the company, valued at $1,042,550. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other GXO Logistics news, Director Gena L. Ashe sold 10,526 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $58.15, for a total value of $612,086.90. Following the completion of the sale, the director now owns 15,062 shares of the company’s stock, valued at $875,855.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About GXO Logistics

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.